Medtronic (NYSE:MDT) Shares Down 1.1% – Should You Sell?

Shares of Medtronic plc (NYSE:MDT) fell 1.1% during mid-day trading on Tuesday . The company traded as low as $85.50 and last traded at $85.62. 648,491 shares traded hands during trading, a decline of 90% from the average session volume of 6,251,220 shares. The stock had previously closed at $86.54.

Wall Street Analysts Forecast Growth

MDT has been the topic of several recent research reports. Sanford C. Bernstein boosted their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Oppenheimer boosted their price objective on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. Wells Fargo & Company lowered their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Finally, Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and an average price target of $95.27.

Medtronic Stock Down 1.1 %

The firm has a market cap of $109.74 billion, a P/E ratio of 26.18, a P/E/G ratio of 2.45 and a beta of 0.82. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The firm’s fifty day moving average is $88.69 and its 200 day moving average is $85.00.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. As a group, equities research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Medtronic

Hedge funds have recently bought and sold shares of the business. Fortitude Family Office LLC acquired a new stake in shares of Medtronic in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic in the third quarter worth $27,000. Lynx Investment Advisory acquired a new position in Medtronic in the second quarter valued at about $28,000. Finally, J. Stern & Co. LLP bought a new stake in Medtronic during the third quarter worth about $30,000. 82.06% of the stock is owned by institutional investors.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.